Met with a realtor last night and she said because their still is knob and tube wiring can only go conventional.

Use savings from the day jobs to purchase using conventional financing.

If you get a tripled financed it would most likely be a non owner occupied conventional loan.

With more challenges to conventional lending, a lower median income than Anchorage, and a little uncertainty in terms of taxation, staying in a rental might have it's appeal for awhile.I remember the decline from the eighties, this is not the same story.  

I have a quote from a contractor, but do not have enough equity on my property to go the conventional route.

You just said it in the last paragraph, a construction loan will work, you will only pay interest for a certain time period before it switches to a conventional or commercial loan. being the house is under an LLC you will have to go to a commercial mortgage specialist at your bank and they will set it all up. i did this with one of my properties, purchased it with equity loan from my private residence, then took a construction loan from the bank to do the work and based it on the ARV  and the rental income that would be coming in, the work was more than what i paid for the house, converted a split entry single family home to a 2 family, everything brand new inside. you may be able to get the repairs done and on the market before the loan goes from interest only to a P&I loan.

Again havent tested it but my inclination is that I'm in these properties (with nice cashflow) until the neighborhood really takes off or I'm exiting to an investor at a cap rate that is attractive to them which is prop high single digits ie $65k-80k.  

Great point mentioned by Ryan Goldfarb , as someone who grew up and is now looking to invest in Weehawken the vacancy rates are certainly in the low single digits.

As mentioned previously, there are two ways to go about proving/disproving the eviction. 1) Verify the address/owner/manager of property applicant claims to have lived during time period of eviction & get written evidence from landlord that applicant was residing there. 2) Send a written request to landlord/owner/manager involved in eviction to verify that this applicant is NOT the same as one in eviction (I ask if last 4-5 digits of ssn match their records).

Here's the question:I have my primary resedence (about 25% equity), and would like to finance the second home as an investment property using conventional loan.